YEREVAN, April 27. /ARKA/. HSBC Bank Armenia CJSC (hereinafter HSBC Armenia) has been named as “Market Leader” for trade finance by Euromoney’s 2021 Trade Finance Survey.

Artak Petrosyan, Head of Global Trade and Receivables Finance department, said: “This award is a remarkable achievement for HSBC Armenia, since it reflects all the dedication and effort HSBC invests to best meet its customers’ needs. It is gratifying that the win represents the verdict of businesses who valued the bank’s efforts and voted in the industry’s biggest independent survey. Trade finance has been at the core of HSBC’s evolution as a financial institution. For more than 150 years we’ve been promoting this important service to make international trade more accessible and efficient for our customers. This recognition shows that regardless of the hurdles of the past year we have been able to support our customers by ensuring the continuity of services and improving their experiences via our solutions, global reach and thousands of professionals in more than 50 markets worldwide. We will continue investing in the development of trade finance solutions in the market and helping businesses access new markets and expand their geography of trade.”

For a record fourth consecutive year HSBC Bank has been named world’s top for trade finance in Euromoney’s 2021 Trade Finance Survey.

HSBC was also voted market leader in Asia Pacific and North America and overall service leader in Asia Pacific, Middle East and North America.

The Bank took the first place in 23 individual markets, including Hong Kong and the UK, and was voted as the best overall service provider in 17 markets.

HSBC Holdings plc

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,984bn at 31 December 2020, HSBC is one of the world’s largest banking and financial services organisations.

HSBC in Armenia

HSBC Bank Armenia cjsc was established in 1996. The bank is a joint venture between the HSBC Group, which has 70 per cent ownership, and a member of overseas Armenian business with 30 percent ownership. HSBC Armenia serves around 30 000 customers through eight offices located in Yerevan and around 350 employees. As of 31 December 2020, the Bank has assets of AMD 303 billion including the ones, allocated with the mediation of the HSBC Holdings plc. -0-